Nokia defeats U.S. shareholder lawsuit over Alcatel-Lucent integration, 5G progress
The HinduA U.S. judge has dismissed a lawsuit accusing the Finnish telecommunications company Nokia of defrauding shareholders by concealing problems in integrating the former Alcatel-Lucent and in its readiness to become a leader in 5G technology. In a decision on Monday night, U.S. District Judge Andrew Carter in Manhattan said Clyde Waite, the plaintiff leading the proposed class action, failed to identify any statements by Nokia that were false or misleading when they were made. He also said it was not plausible that Nokia's statements would have misled reasonable investors, given the company's "numerous and continuous disclosures regarding the Alcatel integration and 5G progress." Earlier this month, Nokia said it expects to shed about 10,000 jobs from its roughly 90,000-employee workforce within two years, as new Chief Executive Pekka Lundmark tries to boost margins and catch up with rivals in 5G.
History of this topic
Nokia sales and profit drop as economic challenges lead to cutback on 5G investment
The Independent
Nokia, Ericsson slump as patent fights hit margins
The Hindu
Nokia profit matches expectations; dividend to resume
Associated PressNokia profit substantially up on new operating model, 5G
The Hindu5G underdog Nokia firmly back in game after Lundmark's shakeup
The HinduDiscover Related
)
)
